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Barchart
Barchart
Rich Asplund

Crude Prices Retreat on Progress in US-Iran Peace Talks

August WTI crude oil (CLQ26) today is down -1.26 (-1.81%), and August RBOB gasoline (RBQ26) is up +0.0335 (+1.16%).

Crude oil and gasoline prices are mixed today, with crude falling to a 4.25-month low and gasoline rising to a 1-week high. Crude prices are under pressure today amid signs of progress in US-Iran peace talks. Also, dollar strength today is weighing on most commodity prices, including crude. Today’s weekly EIA inventory report is mostly bullish as crude supplies fell more than expected to a 7.75-year low and gasoline stockpiles fell more than expected.

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